Company No: 08276872 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	11,652,679		9,959,137
Investment property	4	3,800,000		3,800,000
		15,452,679		13,759,137
Current assets
Stocks		305,010		302,734
Debtors	5	181,801		1,231,275
Cash at bank and in hand		2,490,438		980,712
		2,977,249		2,514,721
Creditors: amounts falling due within one year	6	( 1,013,831)		( 1,696,145)
Net current assets		1,963,418		818,576
Total assets less current liabilities		17,416,097		14,577,713
Creditors: amounts falling due after more than one year	7	( 4,255,252)		( 3,885,940)
Provision for liabilities		( 1,057,655)		( 804,036)
Net assets		12,103,190		9,887,737
Capital and reserves
Called-up share capital	8	2,000,001		2,000,001
Fair value reserve		1,238,898		1,238,898
Profit and loss account		8,864,291		6,648,838
Total shareholder's funds		12,103,190		9,887,737

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Jackamax Limited (registered number: 08276872) were approved and authorised for issue by the Board of Directors on 03 December 2025. They were signed on its behalf by:

Mr M D Rowe Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Jackamax Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is Lower Penhallow Farm, Ruan High Lanes, Truro, Cornwall, TR2 5LS.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery	10 % reducing balance
Vehicles	20 % reducing balance
Fixtures and fittings	15 - 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		2

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 April 2024	8,070,833		2,044,267		38,095		342,951		10,496,146
Additions	1,435,081		1,268,908		31,000		4,382		2,739,371
Disposals	( 656,226)		( 187,489)		0		0		( 843,715)
At 31 March 2025	8,849,688		3,125,686		69,095		347,333		12,391,802
Accumulated depreciation
At 01 April 2024	3,464		357,804		27,512		148,229		537,009
Charge for the financial year	863		218,911		3,150		30,045		252,969
Disposals	0		( 50,855)		0		0		( 50,855)
At 31 March 2025	4,327		525,860		30,662		178,274		739,123
Net book value
At 31 March 2025	8,845,361		2,599,826		38,433		169,059		11,652,679
At 31 March 2024	8,067,369		1,686,463		10,583		194,722		9,959,137

4. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	3,800,000
As at 31 March 2025	3,800,000

The investment property was valued on 31 January 2023 and the revalued amount reflected within the 31 March 2023 accounts. Subsequent to this, the directors consider that there has been no change to the fair value of the property.

5. Debtors

	2025		2024
	£		£
Trade debtors	83,540		7,002
Other debtors	98,261		1,224,273
	181,801		1,231,275

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	349,675		697,852
Amounts owed to directors	24,000		24,000
Other loans	0		700,000
Accruals	81,104		230,815
Corporation tax	559,052		43,478
	1,013,831		1,696,145

7. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	300,000		0
Amounts owed to directors	3,087,279		3,298,035
Accruals	867,973		587,905
	4,255,252		3,885,940

The bank loans are secured by way of a fixed and floating charge over the property of the company.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
2,000,001 Ordinary shares of £ 1.00 each	2,000,001		2,000,001